May 22, 2019| Boulder, CO & London, England – Cognition Foundry, a purpose-centered technology developer, has been recognized with the UN Sustainable Development Goal (SDG) Action Award for their work in developing the technical architecture for the Social Plastic platform in collaboration with The Plastic Bank.
Social Plastic enables entrepreneurs from amongst the world’s poorest communities to exchange plastic waste for digital currency to be used for life-changing goods and services. The Social Plastic movement connects the world’s largest CPG brands with the world’s poorest individuals, forming an advanced circular economy and catalyzing the clean-up of the ocean. With Social Plastic, the flow of discarded plastic to the ocean is interrupted, collectors earn a predictable income, and the plastic returns to commerce as a socially responsible material corporations use in their products.
Cognition Foundry’s experienced team of technologists, developers, and business mentors turned Plastic Bank’s social business vision into reality by developing a secure and trusted blockchain platform using HyperLedger Fabric technology to track the Social Plastic process end to end. This platform enables the Social Plastic app to track the quantities of waste collected, credit and compensate collectors, engage local institutions such as schools, municipalities, and businesses that accept the digital currency, and trace the delivery of social plastic to participating corporations.
The United Nations SDG Action Award recognized the efforts of Plastic Bank, Cognition Foundry and IBM for making a positive impact in tackling poverty around the world. Over three hundred and fifty-five (355) submissions were included in the Connector category. The finalists included Social Plastic, the City of New York (NYC) and the 2018 Italian Sustainable Development Festival.
The UN SDG Action Awards annually recognizes impactful initiatives and projects that achieve the UN’s 17 Sustainable Development Goals. These goals were adopted in 2015 by 193 countries as a framework for a better global future by 2030.
“Social Plastic provides a beacon of hope for individuals living in environments traditionally fraught with corruption, instability and insecurity. Plastic Bank strives to stop ocean plastic by transforming plastic waste into currency. Revealing the true value of recycled plastic, we empower the most impoverished people in the world to convert the pollution in their communities into wealth, which provides a meaningful ascent from poverty, increased access to life necessities, and a vehicle to join the world economy,” adds David Katz, President, The Plastic Bank, “the award would not have been possible without the significant dedication, passion and technical know-how that is Cognition Foundry.”
Since launching as a pilot in Haiti in 2014, the underlying technical architecture and infrastructure built for the Plastic Bank has scaled rapidly to serve a growing global market. Today, there are 32 operating locations in Haiti and 27 locations in the Philippines, with additional locations being planned to open in other countries in 2019. Over 2,000 collectors have returned more than ten (10) million pounds of plastic waste to the recycling loop through the Social Plastic platform. Cognition Foundry is proud of being part of the team that has connected the largest CPGs, communities, government institutions and NGOs to collaborate for a global cause.
“Cognition Foundry is committed to ensuring visionaries like David Katz can make the world a better place for all its citizens. We use technology, our unique skills and expertise, and combine that with great ideas to tackle the world’s greatest challenges,” says Bill Stark, President, Cognition Foundry, “A big part of our ethos is to donate time to provide initial guidance to those impact entrepreneurs struggling to put their idea, vision and passion into action and execution. And we are open to the next big idea.”
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About Cognition Foundry
Cognition Foundry is a boutique team of purpose-driven technologists collaborating with Impact-minded entrepreneurs and social businesses with a passion and desire to tame the world’s most challenging problems through innovation and transformative approaches, products and solutions.
Cognition Foundry combines business expertise and cutting edge technology and concepts like Blockchain, cloud and Artificial Intelligence, to enable Impact entrepreneurs and social businesses to drive sustainable and measured change. Learn more at www.cognitionfoundry.com